Israel gets fintech hub

Israel gets fintech hub

Israel is the latest country to get a dedicated fintech hub, as The Floor arrives in Tel Aviv promising to support startups disrupting the financial services industry.

Financially backed by Chinese-Israeli VC fund Pando Group, The Floor is aiming to follow in the footsteps of London's Level 39 and provide a focal point for the burgeoning Israeli fintech ecosystem of some 430 startups.

As well as offering members a physical home in the centre of Tel Aviv, the hub has also built a network of 25 expert mentors and has secured the backing of four major banking partners - HSBC, Intesa Sanpaolo, RBS and Santander.

Several startups have already jumped aboard but The Floor is inviting others working in areas such as digital banking, big data, blockchain and compliance, to apply for membership, which costs a monthly fee. Banks, VCs and service providers are also able to join the hub for a fee to gain access to the startups.

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